Ripple

What Lies Ahead For Ripple’s XRP Price?

Written by: Delma Wilson

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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Aug 19, 2022

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It’s been almost a week that the crypto market has been under bearish control as the Bitcoin price action has pulled down almost all of the major cryptocurrencies including XRP price.

However, at the time of writing, XRP has plunged by 4.05% over the last 24 hrs and is now trading at $0.3619.

The last 20 trading days of XRP were one of the lowest in the daily chart. Nevertheless, this volatility that has pulled down Ripple’s XRP seems to be an indication of a rally in the days to come.

Low Volatility For Good

XRP is facing low daily volatility which could prompt several traders and investors to start accumulating in hopes of profits once the price rallies. 

At present, XRP’s trading volume is not that attractive, and hence, it’s safe to claim that no major whalestats or investors have stepped into the XRP market yet.

Ripple vs SEC

Though XRP is associated with Ripple, the two are considered different projects. However, if ripple manages to succeed against the US Securities and Exchange Commission, it will have a positive impact on XRP’s price movement. 

On the other hand, if Ripple fails to win against the SEC, the company will leave the US.

XRP Price Trades Flat

XRP’s daily chart reveals that XRP has already bottomed out in terms of price movements. When the last 70 days’ price action is considered, the asset’s movement is flat- which can be interpreted as consolidation before a trend reversal. 

Currently, XRP is hovering around its 50-day moving average, struggling to surpass the $0.4 price level.

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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